Paper on Kazakh oil exports across the Caspian to be signed in weeks
A preliminary memorandum on exporting Kazakhstan`s
oil to world markets through the trans-Caspian pipeline will be
signed in late January.
Work on creating the system for transporting hydrocarbons across the Caspian Sea, an abundant source of energy resources, will be completed in 2012, according to Kazakh giant Kazmunaigaz.
The infrastructure is being built mainly for the exports of oil from the Central Asian state`s major Kashagan field. The deposit, which will produce 1.2 million barrels per day, is due to launch production by October 2012.
Moreover, preparation of the feasibility study on the Yeskine-Kurik pipeline that will pump oil extracted at Kashagan will be over in late 2009. The conduit, with annual throughput capacity of about 20 million tons, will cost $1.3-1.4 billion, according to preliminary estimates. It will transport oil from the Kurik port on the Caspian shore to Baku by tankers.
Each tanker, estimated at $70-80 million, is expected to transport up to 5 million tons of hydrocarbons a year. The lifting capacity of the tankers is about 60,000 tons.
We recall that the Azerbaijani state energy firm SOCAR and Kazmunaigaz signed an agreement on basic principles of implementing the trans-Caspian project in Baku in mid-November. The deal envisions transporting Kazakh oil to energy-thirsty European markets via the Baku-Tbilisi-Ceyhan (BTC) main export pipeline under a $3 billion project.
The trans-Caspian system is expected to initially transport 500,000 bpd, or 23m tons a year. In the following stages, the figures are to average between 750,000 and 1.2m bpd, or 35-56m tons a year. The volume will be further brought to 1.8m bpd.
Azerbaijan and Kazakhstan will set up a joint venture to enforce the signed agreement.
Iran and Russia have stated that laying pipelines under the Caspian was unacceptable until the coastal nations determine the status of the basin.
Work on creating the system for transporting hydrocarbons across the Caspian Sea, an abundant source of energy resources, will be completed in 2012, according to Kazakh giant Kazmunaigaz.
The infrastructure is being built mainly for the exports of oil from the Central Asian state`s major Kashagan field. The deposit, which will produce 1.2 million barrels per day, is due to launch production by October 2012.
Moreover, preparation of the feasibility study on the Yeskine-Kurik pipeline that will pump oil extracted at Kashagan will be over in late 2009. The conduit, with annual throughput capacity of about 20 million tons, will cost $1.3-1.4 billion, according to preliminary estimates. It will transport oil from the Kurik port on the Caspian shore to Baku by tankers.
Each tanker, estimated at $70-80 million, is expected to transport up to 5 million tons of hydrocarbons a year. The lifting capacity of the tankers is about 60,000 tons.
We recall that the Azerbaijani state energy firm SOCAR and Kazmunaigaz signed an agreement on basic principles of implementing the trans-Caspian project in Baku in mid-November. The deal envisions transporting Kazakh oil to energy-thirsty European markets via the Baku-Tbilisi-Ceyhan (BTC) main export pipeline under a $3 billion project.
The trans-Caspian system is expected to initially transport 500,000 bpd, or 23m tons a year. In the following stages, the figures are to average between 750,000 and 1.2m bpd, or 35-56m tons a year. The volume will be further brought to 1.8m bpd.
Azerbaijan and Kazakhstan will set up a joint venture to enforce the signed agreement.
Iran and Russia have stated that laying pipelines under the Caspian was unacceptable until the coastal nations determine the status of the basin.
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